IRA Gold: Is it a good investment decision?
Using an IRA to purchase gold can be an attractive option. The volatility of the stock market, the desire for concrete investments, and the value of precious metals draw many to consider it.
Gold is rare, so its investment value is viewed as safe with the potential for a higher margin over time. Include the following in your consideration:
Allowable forms by the IRS
The IRS has guidelines on allowable forms of IRA gold. There are fineness standards and certain regulations. These include language for gold bullion as well as coins. Make sure that you are investing within the IRS guidelines.
Accounts that allow precious metal investments
Not all accounts allow for precious metal investments. The IRS allows this type of investment within their guidelines, but make sure that your specific retirement account allows it.
The Solo 401k and the IRA Gold by Sense Financial has the ability to invest in precious metals.
Storage of precious metals
Precious metals must also be physically stored. Sense Financial strongly recommends using an IRS-approved third party depository in order to avoid prohibited transactions.
Remember that you, as trustee of your Solo 401k, cannot use the assets of the plan for your own benefit. Holding the precious metals in your personal possession can appear as a distribution of the plan. Avoid this by using a third party depository that specializes in the storage of precious metals.
Because gold is a tangible product, it must be carefully monitored.
True diversification safeguards your retirement value. Don’t risk your retirement by investing all of it in one class only, such as the stock market. Gold can be a solid investment.
Contact us to speak with one of our retirement account experts about the options available to you at 949-228-9394.
Related Terms:
- gold ira
- gold in ira
- roth ira real estate
- checkbook ira custodian
